Insider Selling: Kill Theodore Sells 14,245 Shares of Methode Electronics Stock (MEI)
Methode Electronics (NYSE:MEI) VP Kill Theodore sold 14,245 shares of Methode Electronics stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $38.07, for a total transaction of $542,307.15. Following the completion of the sale, the vice president now directly owns 90,000 shares in the company, valued at approximately $3,426,300. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Methode Electronics (NYSE:MEI) traded up 3.46% on Thursday, hitting $38.53. 241,158 shares of the company’s stock traded hands. Methode Electronics has a one year low of $17.01 and a one year high of $38.40. The stock has a 50-day moving average of $32.31 and a 200-day moving average of $32.02. The company has a market cap of $1.461 billion and a P/E ratio of 14.84.
Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, June 26th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.54 by $0.71. The company had revenue of $224.90 million for the quarter, compared to the consensus estimate of $198.38 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was up 51.7% on a year-over-year basis. On average, analysts predict that Methode Electronics will post $1.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Stockholders of record on Friday, July 18th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, July 16th.
A number of analysts have recently weighed in on MEI shares. Analysts at FBR Capital Markets raised their price target on shares of Methode Electronics from $37.00 to $44.00 in a research note on Friday, June 27th. They now have an “outperform” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Methode Electronics from $38.00 to $41.00 in a research note on Friday, June 27th. They now have an “outperform” rating on the stock.
Methode Electronics, Inc is a manufacturer of component and subsystem devices with manufacturing, designs and testing facilities in China, Egypt, Germany, India, Lebanon, Malta, Mexico, the Philippines, Singapore, Switzerland, the United Kingdom and the United States.
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